The agreement is effective following a period of due diligence. There is no financial component to the transaction, according to the article.
Under the terms of the deal, Lakeland Regional and OHS will remain independent institutions governed by their own board of directors. Elaine Thompson, PhD, president and CEO of Lakeland Regional, will continue in her position, but will report to OHS CEO David Strong. Both health systems will maintain all current affiliations throughout the transition period and following its completion.
Dr. Thompson said the affiliation will “bring together two health systems that share complementary people-centered, clinically advanced cultures,” and would “create an integrated regional healthcare system that would manage population health across the region,” according to the article.
More articles on transactions and valuations:
Christus Health acquires Good Shepherd Health System
Alecto Healthcare Services to acquire 2 Ohio hospitals
Genesis HealthCare, Kindred Healthcare form strategic clinical collaboration
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